So if there is a C/R - how much will be needed, page-12

The main reason management takeover another similar sized company is to improve their own lot. A larger company means more pay, prestige and shares for them. Growth is the only other driving factor. Work harder at the business you already have and be content with slow growth and low debt. Take smaller risks to expand. Yes one in 10 of these massive risks plays pay off but the other 9 out of ten! SGH another similar example.